Gain on mutual funds

1607 views 15 replies

long term capital gain on mutual funds is taxable or exempt?

Replies (15)

exempt if the mutual fund is equity based fund i.e. having equal to or more than 65% investment in equity..

 

YES AGREE WITH ABOVE AND BY VIRTUE OF SECTION 10(35).

Agree with tushar......

In the case of long term capital gain arising out of the sale of shares or equity mutual funds, there is no income tax under section 10(38) is fully exempt.

these are normal mutual funds and i think co. never tell us what they will do with the money recd. against mutual funds..

 

i mean how can i know they invest >65% in equity
 

Dheeraj......

in FACTSHEET of any AMC it is specified about it... as EQUITY oriented mutual fund schemes.....

or else you can check out at...

https://www.amfiindia.com/schemedetails.aspx

i think all mutual funds are not exempt

like mutual funds of Reliance, HDFC, UTI etc.

check the document under link to find that your mutual fund is exempted or not

https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/sec_010(23d).htm

@ US Sharma...

 Already read this page..

this page does not include all as specified above like HDFC etc.

 

@ Durgesh Thanks Sir, But this site is not working...

go to your mutual fund site and check the status of specific fund, also the redemption memo contain the exemption notification data.

 

mere on gross information "mutual fund" discussion can not continue. unless specific fund details are available 

 

you can try 

https://www.amfiindia.com

 
or search as AMFIINDIA on google.com you will get the working link/site........

agree with tushar                                  

yes it is exempt...agree with all of them

LONG TERM CAPITAL GAIN ARISING ON MUTUAL IS EXEMP UNDER SEC 10(38) IF AND ONLY IT IS LISTED OTHERWISE IT WILL BE TAXABLE.

No need to rack your brains-if the AMC has deducted STT,then it is exempt.Otherwise taxable.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details